- Galaxy sold 80,000 BTC from 2011 wallets worth $9B, marking one of crypto’s largest ever asset liquidations.
- Bitcoin briefly dipped to $115K amid the selloff but quickly recovered to $117K, suggesting strong market absorption.
- The sale shows the growing use of structured estate planning and legacy asset management in crypto.
Galaxy has completed a $9 billion Bitcoin sale tied to early 2011 wallets. On behalf of an ancient investor, the firm offloaded over 80,000 BTC in what is one of the largest transactions in the digital asset’s history.
These coins, created during the early years of Bitcoin, had remained untouched for over a decade. According to Galaxy’s public statement, the liquidation formed part of the investor’s estate planning.
Although the identity of the seller remained undisclosed, blockchain analysts had previously linked the coins to multiple wallets dating back to April and May 2011.
Coins From 2011 Linked to Overnight Transfers
The movement of these coins began days before the official confirmation. Lookonchain tracked the transfer of 80,000 BTC from dormant addresses to Galaxy. Most of these transactions occurred overnight and were sent to multiple counterparties.
These actions led to speculation across social platforms, particularly around the coins’ final destination and whether they were hitting open markets. Galaxy had already distributed a significant portion of the BTC before the press release. This pattern of distribution also coincided with a short-term drop in Bitcoin’s price.
Bitcoin Slips Briefly Before Climbing Back Above $117K
The selling pressure from Galaxy’s distribution contributed to Bitcoin falling to $115,000 late Thursday. By early Friday, a CryptoQuant analyst noted that over 32,000 BTC had entered exchanges within hours.
However, despite the steep volume and sudden shift, Bitcoin stabilized quickly. By Friday afternoon, the price had climbed back to around $117,500. Analysts viewed this recovery as an indication that much of the selling had already been absorbed.
Estate Planning Main Reason for the $9B Exit
The seller’s motivation, according to Galaxy, came from estate planning considerations. The firm described the move as one of the most significant exits in the crypto market to date.
While coins from 2009 remain rare, assets tied to 2010 and 2011 also carry historical importance. The transaction showed the gradual movement of dormant BTC into circulation and the growing role of structured digital asset management for legacy holders.
This transaction brought 80,000 dormant Bitcoins to market without long term disruption. Galaxy’s sale, driven by estate planning needs, demonstrated the maturing infrastructure for handling legacy crypto portfolios at scale.
